UCL, IFGL & Visa steel Q2 results

Last Updated: Sun, Nov 01, 2009 19:50 hrs

Universal Cables Limited, belonging to the M P Birla group, has clocked in a net profit of Rs 6.95 crore for the quarter ended September 30, from a net loss of Rs 1.37 crores in the corresponding quarter of the previous year. Net sales were at Rs 130.11 crore against Rs 157.96 crore in the previous corresponding quarter. D R Bansal, chief executive officer, attributed this performance to the initiative of putting up a vertical continuous vulcanization (VCV) line for the manufacture of XLPE cables up to 400 kV in technical collaboration with Furukawa Electric Co Ltd, Japan.

IFGL PAT up 50.59 per cent

IFGL Refractories has recorded a profit after tax of Rs 10.24 crore for the quarter ended September 30, 2009, an increase of 50.59 per cent over the same period last year. Total income at Rs 108.47 crore saw a dip of 13.97 per cent.However, the company expects better sentiments going forward.Trial production of pressed ceramic filters based on know-how from a step down subsidiary company, Hofmann Ceramic GmbH has been carried out at the company's Kalunga facilities near Rourkela (India) and steps are now being taken for industrial scale production. These products are meant for 'foundries'.

Visa Steel net profit at Rs 8.71 cr

VISA Steel has recorded a profit after tax of Rs 8.71 crore in the quarter ended September 30, 2009,a drop of 56.67 per cent compared to the same period last year. Revenues at Rs 252.81 crore were down by 23.65 per cent. Vishal Agarwal, managing director, VISA Steel said, the revenues were stable inspite of a sharp fall in sales realisation due to better production volumes. "We have focused on reducing our raw material costs especially coking coal, iron ore and chrome ore. Power costs have also fallen significantly due to commissioning of 50MW power plant," he added.

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